Intel management holding strategic meet in Israel

Intel's executives led by CEO Bob Swan will meet Prime Minister Benjamin Netanyahu later this week.

The entire international management of Intel will meet with Prime Minister Benjamin Netanyahu later this week. Netanyahu will give them a review of Israeli technological innovation spanning cyber, artificial intelligence (AI), and quantum computing, among other things. Intel will tell Netanyahu that Israel can become an international center for autonomous vehicles. The exact meeting date has not been set.

For the first time, Intel is holding its annual event of strategic discussions by senior management, headed by interim CEO Bob Swan, in Israel. Dozens of Intel executives will attend the event, including the CFO, the president of Intel Capital, global computer and servers managers, the 5G communications manager, and Intel's AI manager. Swan said today, "The visit highlights our commitment to Israel and our belief that Israel is a catalyst in promoting the technology that will drive the coming era. Israel will become a global center for autonomous driving technology, AI, and core computing, all of which are extremely important for the world."

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The event was initiated and pushed by Mobileye cofounder, current CEO of the Mobileye group in Intel, and senior Intel VP Prof. Amnon Shashua, who is leading the visit and acting as the guests' guide on their tours. Among other things, the visit is designed to study in depth Israel's unique role as a source of global innovation.

Intel's management is holding discussions today in various business groups, and is meeting with employees and executives in Intel Israel and Mobileye and hearing from them about their work. Among other things, meetings were held with the management of Intel's plant in Kiryat Gat, which was named Intel's most outstanding fab. Intel's management also met with the management of the Mobileye plant in Jerusalem. An event is being held today in Haifa in honor of 9th generation Core 900 processors. Thousands of employees are attending the event, which is taking place at the Haifa International Convention Center. The new AI center, founding of which was supported by Intel will be inaugurated tomorrow in the presence of Intel's management.

Shashua said, "Israel has become a general world center of autonomous driving developers. The next revolution will originate in Jerusalem and affect all of our lives. The historic visit to Israel by Intel's senior management emphasizes Israel's importance to the company's vision and strategy."

Early this year, the government granted Intel NIS 1 billion for expansion of its fab in Kiryat Gat. Intel says that the purpose of the meetings in Israel is not to promote additional investments in Israel, but these meetings constitute part of the yearly strategic discussions being conducted by the company's management on questions concerning Intel's future direction and plans.

Published by Globes [online], Israel business news - en.globes.co.il - on October 8, 2018